📈 TSPL: BUY Signal (7/10) – Transmission of Quarterly Financial Statements for the Period Ended 2025-09-30

📌 Key Takeaways

• ✅ Revenue surged to PKR 3.3 million in Q1 2025, a major boost from no revenue in Q1 2024.
• ⬆️ Gross profit soared to PKR 3,211,095, contrasting sharply with a gross loss of PKR 70,681 in the prior year.
• 👍 Operating profit turned positive at PKR 187,630, a substantial recovery from an operating loss of PKR 1,130,199 last year.
• 🌟 Net profit reached PKR 687,630, compared to a net loss of PKR 633,074 in the same quarter last year.
• 📈 Earnings per share (EPS) improved to PKR 0.05 from a loss per share of PKR 0.04 in the previous year.
• 💰 Total assets increased to PKR 221,084,869 from PKR 217,030,608.
• 💸 Cash and bank balances decreased slightly to PKR 42,789,420 from PKR 42,887,060.
• 🤝 Trade and other payables increased to PKR 40,831,031 from PKR 37,906,031.
• 🌱 The company’s investment in quoted equity securities stands at PKR 47,109,850.
• ☀️ Company’s revenue is now driven by provision of solar energy and solar panel installation.
• 🏦 Bank Al-Habib Ltd. remains the company’s primary banker.
• 🏢 Registered office is located in Karachi, Pakistan.
• 💡 Significant accounting policies remain consistent with the previous year.
• 📜 The company is seeking alternative measures to operate its power plant.

🎯 Investment Thesis

BUY: Tri-Star Power has demonstrated a significant turnaround in its Q1 2025 financials. The shift from loss to profit, improved EPS, and revenue growth indicate strong recovery potential. With a focus on renewable energy, the company is well-positioned to capitalize on the growing demand for clean energy solutions. A price target of PKR 1.50 is set, with a time horizon of 12-18 months, considering the company’s growth trajectory and improved financial performance.